The U.S. stock market indexes currently lose between 0.1% and 0.3%, as investors take some profits following recent move up. The S&P 500 index is slightly below the resistance of 1,770-1,775, marked by the October 30 all-time high at 1,775.22. The S&P 500 futures contract (CFD) trades lower, after bouncing off the resistance at around 1,770. Still in over two-week long consolidation, as we can see on the 15-minute chart:
Our intraday outlook remains bearish, and our short-term outlook is bearish:
Intraday outlook: bearish
Short-term outlook: bearish
Medium-term outlook: neutral
Long-term outlook: bullish
Thank you,
Paul Rejczak